Ifo Business Survey for July 2003

In western German trade and industry, the business climate improved in July for the third time in a row. The enterprises classified their current situation still a little more unfavourably than in the previous month, but appraisals of the business outlook were more positive. Also in eastern Germany the business climate kept on brightening. Here both the judgements of the current situation as well as the business expectations were less negative than in June.